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Redcorp Ventures Ltd.: Third Quarter Interim Highlights for the Three and Nine Month Periods Ending September 30, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - REDCORP VENTURES LTD. (TSX:RDV) is pleased to report third quarter interim operational and financial highlights for Redcorp and its wholly-owned consolidated subsidiaries, Redfern Resources Ltd. and Redcorp Empreendimentos Mineiros Unipessoal Lda. Readers are advised that due to the summary nature of this release, the highlights should be read in conjunction with our third quarter interim report that is being concurrently filed on www.sedar.com.

Summary of Operational and Financial Highlights

The following table shows selected consolidated financial information for the comparative three and nine month interim periods ended September 30, 2007 and 2006.

(1)See Investments in ABCP below for further explanation.(2)Includes expenditures in Property, Plant and Equipment, and Oil and Gas Interests.

The following items summarize the key operational and financial highlights of the interim period:

Closing of $252 Million Debt and Equity Offering

On July 10, 2007 we closed a short-form prospectus offering for total gross cash proceeds of approximately $252.0 million - 56.3% of which was debt-based and 43.7% equity-based. The debt component involved the issuance of 141,975 series D units and the equity component involved the issuance of 220,022,650 series E units.

Each D unit was comprised of a senior secured redeemable $1,000 principal amount D note and 320 of our common shares. The D notes bear interest at a rate of 13% per annum, payable semi-annually in arrears, and will mature on July 11, 2012. The D notes are direct secured obligations of ours, ranking senior to all existing and future indebtedness.

Each E unit, priced at $0.50, was comprised of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant is exercisable for the purchase of one common share at a price of $0.65 until July 10, 2009, subject to our right to accelerate the expiry date of the warrants after July 10, 2008 if the volume weighted average price of the common shares on the TSX is greater than $1.50 for 20 consecutive trading days.

Pursuant to the terms of the D notes, an amount equal to the first four interest payments payable by us to the note holders has been deposited in a trust-governed escrow account.

The proceeds of the prospectus offering are to be used for development and construction through to production of a new mine at the Tulsequah Chief deposit in northwest B.C. and for general corporate purposes. The new mine, which is owned 100% by Redfern, is projected to produce zinc, copper and lead concentrates with significant gold and silver by-products. Pre-start-up capital investment was estimated in the 2007 Feasibility Study by Wardrop Engineering Inc. at $201.5 million, including a $21.4 million contingency.

Capital Expenditures

During 2007-Q3, we incurred or accrued capital expenditures relating to the development of the Tulsequah Chief mine, which contributed 98% of the increase in our property, plant and equipment, and oil and gas interests that aggregated $15.5 million.

Big Bull Exploration Update

During 2007-Q3, we announced that exploration drilling in the Big Bull area cut three zones of significant mineralization in drill hole BB07076. The first zone, from 244.00 to 245.12 meters, cut 4.49 gpt gold, 259.57 gpt silver, 3.86% lead and 22.46% zinc over an estimated true width of 1.1 meters. From 255.00 to 257.81 meters the hole cut 1.69 gpt gold, 120.14 gpt silver, 1.91% lead and 4.75% zinc over an estimated true width of 2.2 meters and the final intercept cut from 284.85 to 290.57 meters, returned 1.89 gpt gold, 110.41 gpt silver, 2.43% lead and 9.29% zinc over an estimated true width of 5.6 meters. The stratigraphic position of this mineralization suggests that it is part of the main Big Bull trend.

Investments in ABCP

On July 12 and 13, 2007, we invested a portion of our uncommitted funds for approximately 30 days in highly-liquid, third-party sponsored ABCP. On August 13 and 14, 2007, short-term investments, that one month earlier we had made upon the recommendation of our corporate bank, HSBC Bank Canada, had matured and not been repaid, leaving an outstanding balance owed to us of $91.4 million, including interest to their maturity only.

During the month of August, the Canadian third-party ABCP market experienced liquidity problems. As a result, in some cases, certain Canadian ABCP programs were unable to raise funds from new issuances and therefore were not able to refund the paper as it matured. At this time, the ABCP market is currently the subject of an agreement signed August 16, 2007 among a number of affected parties. This agreement, referred to as the "Montreal Proposal", contemplates some form of a restructuring of ABCP with the expressed intention of re-introducing the investments in a different form and also creating a market for them to be traded. While we are not a signatory to the Montreal Proposal, we are directly and through counsel monitoring the activities of a committee formed to implement the restructuring.

As at September 30, 2007, we included ABCP under investments on our balance sheet at a value of $84.7 million which, due to our intention to liquidate these investments within one year, have been reported as current assets. These investments have been classified as Held-for-Trading upon their initial recognition and accordingly are carried at an estimated fair value.

Given that these investments are classified as Held-for-Trading, we are required by Canadian GAAP to fair value them as at September 30, 2007. Further, market uncertainty around ABCP prompted a necessity under GAAP to evaluate our ABCP for any impairment. As a result, we have recognized during 2007-Q3 an impairment of $6.4 million. As there was no market data available, management estimated the fair value by discounting the expected future cash flows according to the probability of recoverability of principal, without factoring in interest. It is reasonably possible that the actual timing and amounts ultimately recovered may differ materially from this estimate.

At the time of their initial purchase, our Series A investments were rated "R1-High" by the Dominion Bond Rating Service (DBRS), such rating being the highest credit rating possible for this type of investment. As at the date of this MD&A, they are rated as "R1-High, Under Review with Developing Implications".

Management will continue to seek all avenues to recover the full value of the original investments and related interest. We are encouraged by the successful restructuring progress made to date by the Montreal Committee and with its positive predictions of arriving at other restructuring proposals by the recently-extended December 14, 2007 deadline.

Board of Director Changes During 2007-Q3

Mr. Peter Dey joined our Board of Directors during the quarter. Mr. Dey is Chairman of Paradigm Capital Inc. and Addax Petroleum Corporation, Director of Goldcorp Inc., Director of Sun Times Media Group Inc., and is an experienced financial and legal advisor. Mr. Dey served previously as Chairman of the Ontario Securities Commission, Morgan Stanley Canada and was a senior partner of Osler, Hoskin & Harcourt. In 1994 Mr. Dey was Chairman of the Toronto Stock Exchange Committee on Corporate Governance.

Messrs. Jonathan Rubenstein and Abraham Aronowicz elected to resign from the Board after many years of much-appreciated service.

Update on Exploration Activities at Lagoa Salgada in Portugal

We received from Wardrop Engineering Inc. an NI 43-101 resource estimate on the Lagoa Salgada deposit. The estimate incorporated data from ten surface holes and includes data collected by previous operators on the project and new holes from our 2006-2007 drill program. This latter program included a total of 5,197 meters of drilling in 11 holes. The estimate resulted in an inferred resource of 2,017,000 tonnes, grading 1.29 gpt gold, 85.35 gpt silver, 4.83% lead, 0.35% copper and 5.13% zinc. The program was successful in two key areas: the extension of the Lagoa Salgada mineralizing system; and the discovery of a potential new lens of massive-sulphide mineralization, located 12 km from the Lagoa Salgada deposit at a target called Rio Moinhos.

Under our exploration contract with the Portuguese Government, we have applied for and received a one-year extension of the Lagoa Salgada Concession. Under the terms of the concession, the area has been reduced by 50% and now totals approximately 207 square kilometers. All key areas within the property have been retained. Follow-up drilling is planned early in 2008. In November of this year a further area reduction is contemplated as part of the renewal of the concession for another one-year term.

Subsequent Events

Tulsequah Project Design Changes Approval Received

On October 3, 2007, we received approval from the British Columbia Environmental Assessment Office for design and infrastructure changes to our original mine plan which will allow for increased operational efficiencies and ultimately higher profitability.

We also received approval for the extension to our original Project Approval Certificate which allows for the design, construction, operation and ultimate dismantlement of the Tulsequah Project. Under the terms of the amendment, the Province of British Columbia has granted an extension to December 12, 2012, during which time we must substantially start the Project.

We have one final environmental assessment application in progress to approve the use of air cushion barges for year-round access to the site in place of the 162 kilometer access road. This amendment is in the public comment period and we anticipate that the formal process will conclude in January 2008.

Mining exploration, mining and processing activities involve a high degree of risk. There are several risk factors that may cause actual results to differ materially from the forward-looking information included in this news release, or which otherwise affect our business. Such other factors are discussed in detail in our Annual Information Form for the year ended December 31, 2006 and in each subsequent MD&A filed by us on www.sedar.com.

Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.

Terence Chandler, President and CEO

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta). Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions.

More specifically, forward looking information contained herein includes, without limitation, statements concerning our plans at our Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay-back period, estimated asset retirement obligations, timing of development and permitting time lines; all of which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with our expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the ultimate recovery amount, if any, of our investment in third-party asset-backed commercial paper (ABCP) that is currently undergoing liquidity restructuring by the Committee representing the Montreal Accord, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to our mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes, the potential for delays in exploration or development activities, timely completion of future NI 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to Our Business in our Annual Information Form, filed on SEDAR on April 2, 2007, and in each subsequent Management's Discussion and Analysis. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, we undertake no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.